Shares of Fitbit Inc. /zigman2/quotes/202323205/composite FIT -0.16% are up 12.6% in Monday trading after Citron Research made a bullish call on the stock and said it could be worth $15 by the end of the year if the company isn't first acquired. The stock is currently trading near $7. The team at Citron is upbeat about the opportunities ahead of Fitbit as it makes a bigger push into the broader healthcare ecosystem. "What was once a piñata for short-sellers (since IPO) has transformed itself to one of the most underappreciated med-tech stories in the market with a balance sheet and brand equity that gives investors a tremendous investing opportunity," the Citron analysts wrote. "Fitbit is wooing the right customer...insurance." Citron sees a high likelihood that Fitbit will get acquired in the next year, perhaps by Alphabet Inc.'s /zigman2/quotes/202490156/composite GOOGL -1.66% Google. Shares were up earlier Monday after Fitbit said that its new kids' wearable was now globally available. Fitbit's stock is up 31% so far this month, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.84% has gained 3.1%.
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Fitbit stock heads for best day ever as Citron praises health opportunity